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Hello all. I have been actively attempting to repair my credit for the past seven months and have been moderately successful so far.
I have multiple derogatory marks still remaining on my credit report from harder times, before I got my current, much better, job. I have some questions that I am hoping some here might be able to offer insight on.
1. I have a closed account from a Capital One CC that went on to be C/O. I settled this balance in full seven months ago, and it shows as closed on my credit report. However, it is still being listed as part of my active revolving credit as well. How is this possible, and what can be done about this? I would like to get a card with Cap One now that I am financially stable, but I seem to be blacklisted by them because this is still on my CR. I even got denied for their secured CC several months ago.
2. Speaking of CCs, I currently have one, a secured card through Merrick. I have had it for the past seven months, and in excellent standing. I know I should get a second card, and I'd like to apply for the Cap One platinum, but I don't want to take the hit and then find out I'm denied. Am I better off going with another secured card? Perhaps one that doesn't do a hard pull, like OpenSky? For what it's worth, my other open accounts are auto loan (always on time) and Student Loans.
Thank you in advance to anyone that replies.
Have you tried the prequalify with Cap One since you paid the charge off? Your results might have changed since you paid off the old account.
@Anonymous wrote:Hello all. I have been actively attempting to repair my credit for the past seven months and have been moderately successful so far.
I have multiple derogatory marks still remaining on my credit report from harder times, before I got my current, much better, job. I have some questions that I am hoping some here might be able to offer insight on.
1. I have a closed account from a Capital One CC that went on to be C/O. I settled this balance in full seven months ago, and it shows as closed on my credit report. However, it is still being listed as part of my active revolving credit as well. How is this possible, and what can be done about this? I would like to get a card with Cap One now that I am financially stable, but I seem to be blacklisted by them because this is still on my CR. I even got denied for their secured CC several months ago.
2. Speaking of CCs, I currently have one, a secured card through Merrick. I have had it for the past seven months, and in excellent standing. I know I should get a second card, and I'd like to apply for the Cap One platinum, but I don't want to take the hit and then find out I'm denied. Am I better off going with another secured card? Perhaps one that doesn't do a hard pull, like OpenSky? For what it's worth, my other open accounts are auto loan (always on time) and Student Loans.
Thank you in advance to anyone that replies.
If the charge off occured less than 12 months ago, that is the reason for the denials. You will have to wait until it is over 12 months old.
Don't be discouraged though OP! You're doing a good job improving, and it will all start coming together soon. Your efforts will pay off.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |